Stocks Hold Steady as Oil Dips

Oil is giving back its Monday gains

Sep 17, 2019 at 12:01 PM
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The Dow Jones Industrial Average (DJI) is lower again today, setting up the potential for a second straight loss for the 30-stock index. Oil's reversal after Monday's gains is weighing on the market, as October crude futures slide 5.2% to $59.61 per barrel. The energy sector is underperforming as a result, though the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are still flirting with positive territory at midday. This all comes as the Fed begins its two-day meeting, with a decision on monetary policy to come tomorrow afternoon. 

 Continue reading for more on today's market, including:

midday market stats sept 17

One name seeing notable options trading is SunPower Corporation (NASDAQ:SPWR), as the solar stock spikes. The shares are trading up 9.2% at $14.13, and call volume is already at roughly seven times the daily average. Most popular is the weekly 9/27 13-strike call, followed by the March 13 call. A few other short-term calls are seeing opening activity, too, and anyone buying these options would be wagering on more upside for SPWR stock.

One stock on the rise today is online dating specialist Match Group Inc (NASDAQ:MTCH), thanks to positive analyst attention, after Citigroup called attention to the company's international potential. The shares are up 2.8% at $78.76, as they bounce from the 80-day moving average and a trendline of higher lows since November.

mtch stock chart 2

One of the worst stocks on the Street today is Corning Incorporated (NYSE:GLW), after the company lowered its forecasts for display and optical units. This has GLW shares down 7.2% at $27.89, putting their one-year decline at nearly 21%.
 

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